The key Russian oil export terminal at Novorossiysk was on fire early on Monday following an overnight drone attack, as Ukraine intensifies strikes on Russia’s oil infrastructure to reduce its export capabilities amid surging oil prices.  The attack comes as another of Russia’s ports, Ust-Luga, resumed oil loadings after multiple days of disruptions due to drone attacks in the Leningrad region. But instead of offering some respite to global oil markets, the Novorossiysk terminal was set ablaze. The area at the port of Novorossiysk,…

US President Donald Trump repeated his threat to strike Iranian infrastructure hard if Tehran does not open the Strait of Hormuz, using explosive language hours after announcing that US forces rescued the missing crew member from a downed F-15 fighter jet. "Tuesday [April 7] will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the F****** Strait, you crazy bastards, or you’ll be living in Hell - JUST WATCH!" he wrote in a post on his Truth Social platform. Trump's timeframe for his…

India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…

India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…

India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…